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Best First-Time Homebuyer Loans of December 2023

14Dec

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Money

Best First-Time Homebuyer Loans of December 2023

What Are Current Mortgage Rates? Mortgage rates declined across the board this week, with the 30-year fixed rate falling further to 7.07%, according to the Mortgage Bankers Association. Less than two months ago, the rate on a 30-year mortgage was 7.9%. Additionally, the FHA loan rate dipped to 6.84%, making this government-backed mortgage a wise choice for prospective buyers. Mortgage interest rates are still forecasted to stay higher for longer into 2024. Here are the current mortgage rates, as of Dec. 13: 30-year fixed: 7.07% with 0.59 points (previous week: 7.17% with 0.6 points). 15-year fixed: 6.67% with 0.58 points (previous week: 6.8% with 0.77 points). 5/1 ARM: 6.47% with 0.76 points (previous week: 6.58% with 0.69 points). ...

Mortgage Refinancing Calculator | U.S. News

14Dec

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Mortgage Refinancing Calculator | U.S. News

Does It Make Sense to Refinance?Refinancing a mortgage can be a savvy move for some, while for others, it just doesn’t add up. Using a mortgage refinance calculator can help homeowners weigh the pros and cons of refinancing.“Refinancing often results in a lower monthly payment, which can be enticing; however, homeowners should pay attention to the transactional costs that are rolled into the new loan, which can considerably drive up the amount owed,” says Michele D. Hammond, Chase Private Client home lending advisor. There’s also the potential long-term impact, and sometimes much greater cost, of replacing your current mortgage with a new 30-year term. Adding more years to the payment schedule could offset the savings, says Hammond. “For example, if you have 22 years remaining and you ref...

30Nov

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PNC Bank Personal Loans Review 2023

Find the Best Personal Loans for You Lender Learn More APR Loan Amount Min. Credit Score Lender Learn More APR Loan Amount Min. Credit Score Lender Learn More APR Loan Amount Min. Credit ScoreWhat Can PNC Personal Loans Be Used For?PNC personal loans, which start as low as $1,000, can be used for a variety of purposes. The main ones are to consolidate debt, to fund home improvements or repairs, or to handle unexpected expenses. How Do PNC Personal Loans Work?Potential borrowers can begin the application process for PNC personal loans online, in person at a branch, or by phone. You will have to share personal and financial information including: Name, Social Security number, birthdate and address A photo ID Annual income plus other income you wish to include Monthly housing expenses ...

LendingUSA Personal Loans Review 2023| US News

29Nov

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LendingUSA Personal Loans Review 2023| US News

What Can LendingUSA Personal Loans Be Used for? LendingUSA offers financing for consumers to give them extra time to pay for certain services related to health care, funerals, pet care and other purchases. Loan options are offered by the merchant at the time of the sale.How Do LendingUSA Personal Loans Work? You apply for LendingUSA loans online, typically at the service provider’s location. The first step is to see if you are preapproved for the loan and check your rate. In a couple of minutes, you'll get a decision. If you go forward and complete the full application, then there will be a hard credit pull.From there, the loan goes through the underwriting process, which typically takes between three and five business days. Once the loan is approved, you'll have 30 days to make your firs...

These Credit Cards Offer You Free Checked Baggage | Credit Cards

8Nov

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These Credit Cards Offer You Free Checked Baggage | Credit Cards

Rewards credit cards often come with a slew of benefits, including travel perks. One such perk is getting free checked bags on certain airlines or statement credits for airline fees that include baggage. If you're a frequent flier, this benefit can equate to hundreds, maybe even thousands, of saved dollars per year.Learn more about the value of free checked bag perks, and which credit cards offer them.Why Free Checked Bags are a Great PerkFor consumers who travel often and prefer to check a bag, getting a rewards credit card that offers free checked bags can offer big savings, says Andrea Woroch, a consumer and money-saving expert. "The average fee for a checked bag is about $30 to $35 for the first bag," she says. "These charges really add up throughout the year when you consider paying ...

Bank of America Cardholders Can Earn More Nov. 9 | Credit Cards

31Oct

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Bank of America Cardholders Can Earn More Nov. 9 | Credit Cards

If you're thinking of waiting until Black Friday to do holiday shopping and you're a Bank of America credit card holder, you may want to get your shopping list in order a bit sooner.For the second year in a row, Bank of America is offering its credit card customers More Rewards Day on Nov. 9. All Bank of America credit cards are part of the promotion to score bonus cash back or points – an additional 2% cash back or two extra points or miles per dollar. Last year, cardholders earned approximately $25 million in extra rewards. Here's what you need to know.How to Earn Bonus RewardsMake purchases with your Bank of America credit card on Nov. 9 and you'll earn bonus points. There's no sign-up required, and all eligible purchases earn a flat rate, so you don't have to worry about category spen...

Is a 15- or 30-Year Mortgage Right for You? | Mortgages and Advice

23Oct

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Is a 15- or 30-Year Mortgage Right for You? | Mortgages and Advice

If you're preparing to buy a home, you will need to look at not only mortgage interest rates, but also loan types and terms. Your mortgage term is how long you have to repay the loan, and most terms are 15 or 30 years.Should you get a 15- or 30-year mortgage? If you can afford the payment on a 15-year mortgage, the long-term interest savings are great. But the lower monthly payment of a 30-year mortgage could offer you more flexibility if your financial situation changes.Here, we break down the 15- vs. 30-year mortgage debate, including the pros and cons of each and how to decide between the two.What Is the Difference Between a 15- and 30-Year Mortgage?The primary difference between a 15- and 30-year mortgage is the length of time to pay off the loan.A 15-year mortgage pays off your home ...

21Oct

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Rocket Mortgage Review 2023 | US News

Compare Top Mortgage Lenders Lender Learn More Min. Down Payment Min. Credit Score Lender Learn More Min. Down Payment Min. Credit Score Lender Learn More Min. Down Payment Min. Credit ScoreWhat Types of Mortgage Loans Does Rocket Mortgage Offer?Rocket Mortgage offers a specialized loan called YOURgage, which allows borrowers to choose repayment terms from eight to 29 years. This fixed-rate loan can help you tailor your monthly payment to your budget. For homeowners, Rocket Mortgage also offers:How Rocket Mortgage Work?Borrowers can apply through the Rocket Mortgage app or website, and all financial details and documents can be uploaded and shared digitally. Rocket Mortgage recommends that you have this information on hand for your application: Income and employer information. Socia...

17Oct

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Mr. Cooper Mortgage Review 2023

Compare Top Mortgage Lenders Lender Learn More Min. Down Payment Min. Credit Score Lender Learn More Min. Down Payment Min. Credit Score Lender Learn More Min. Down Payment Min. Credit ScoreWhat Types of Mortgage Loans Does Mr. Cooper Offer?Mr. Cooper offers most major home loan options, including: Fixed-rate and adjustable-rate mortgages. Conventional mortgages. Federal Housing Administration mortgages. Veterans Affairs mortgages. Jumbo mortgages. For homeowners, Mr. Cooper also offers: Mortgage refinancing. FHA refinancing. VA refinancing. How Does Mr. Cooper Work?Anyone interested in buying or refinancing a home can begin working with Mr. Cooper by giving the company a call or filling out an online questionnaire to request a call back. Borrowers can also get prequalified onl...

What You Should Know About Private Mortgage Lenders | Mortgages and Advice

11Oct

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What You Should Know About Private Mortgage Lenders | Mortgages and Advice

There are a lot of aspects to qualifying for a mortgage, and no two borrowers are alike. In some cases, a person might not meet traditional bank mortgage lending requirements but still have the means and ability to become a homeowner. That's when turning to a private mortgage lender – in some cases, a close family member – might be worth trying.What Is a Private Mortgage? A private mortgage is a loan that's provided by an individual or company, rather than a financial institution. "Homebuyers usually consider a private mortgage when they're unable to qualify for a mortgage from a traditional lender," says Leslie H. Tayne, founder and head attorney focusing on consumer and business debt matters at Tayne Law Group. In many cases, a private mortgage is an intrafamily loan in which one family...